Around the world

Here’s a look at what’s making headlines in the baking industry around the world:

Here’s a look at what’s making headlines in the baking industry around the world:

China: The World Chocolate Wonderland will be in Shanghai for from Dec. 16, 2011, to Feb. 19. Dubbed “the world’s first chocolate theme park,” visitors will find everything from intricate works of chocolate art to make-your-own chocolate stations. Shanghai is the second stop for show, which debuted in Beijing in 2010 and attracted almost half a million visitors in 73 days, reported CNN.

United States of America: Hostess Brands Inc. filed for Chapter 11 bankruptcy protection. Hostess came out of previous insolvency hearings as recently as 2009. In Canada, Saputo holds the right to the Hostess brand and operates it as its own entity, meaning Hostess brands in Canada won’t be disappearing from the shelves, reported CTV News. Hostess is 81 years old. 

India: The bakery industry in India has achieved third highest revenue generator in the country’s processed food sector. The market size for the industry is pegged at $4.7 billion US in 2010 and is expected reach $7.6 billion US by 2015, according to a new report on the bakery market in India. The market study was design by S Advisors and recently published by Market Publishers Ltd.

Europe: The European Commission approved the proposed acquisition of the Spanish supplier of the baking industry Panrico by U.S.-based alternative investment manager Oaktree, reported New Europe Business Online. 

Argentina: The government of Argentina has ceased subsidizing the country’s poultry and flour milling industries. These subsidies were intended to keep prices affordable, writes Chris Wright, senior editor of Thepoultrysite.com.

Wright further reports that the subsidies began in 2007 with the reasoning that they were assisting internal food prices as international food costs rose.

England: Chocolate maker Thorntons has been fined $20,000 £ after employee Ellen Yardley’s hand was dragged into a machine she was cleaning at its factory in Derbyshire, reported the BBC.

A Health and Safety Executive (HSE) audit found the machine and others at the factory had inadequate protection, the news outlet further wrote.

United States of America: Betty Crocker, the iconic General Mills brand, celebrated its 90th birthday in December, 2011. In honour of its longevity, the company released a new edition of its “Big Red” cookbook.